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Bernstein Downgrades Juniper Following 30% Rally

Bernstein Downgrades Juniper Following 30% Rally

Following the strong rally in Juniper Networks, Inc. (NYSE: JNPR) shares, the stock is now trading in line with its average historical P/E multiple, Bernstein analysts said in a report, while downgrading the company to Market Perform.

Juniper’s shares recorded a steep decline over the first five weeks of 2016 due to the company’s cautious guidance and the resignation of the chief financial officer. Shares have now rebounded ~30 percent from their February lows, backed by “excellent execution and momentum in its "cloud" business in recent quarters,” the analysts mentioned.

Expectations For 2017

The 2017 estimates for Juniper have been revised upwards and now appear “very reasonable,” the analysts pointed out, adding that the expectations had increased ~3 percent in the last three to six months.

Although there is some upside potential, particularly in the first half of the year, the expectations imply a strong performance in H2, which means “the situation will become more risky as we progress into 2017,” the Bernstein report added.

Latest Ratings for JNPR

Sep 2019Initiates Coverage OnIn-Line
Aug 2019Initiates Coverage OnEqual-Weight
Jul 2019DowngradesNeutralSell

View More Analyst Ratings for JNPR
View the Latest Analyst Ratings

Posted-In: BernsteinAnalyst Color Downgrades Analyst Ratings Tech Best of Benzinga


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Benzinga's Top Upgrades, Downgrades For January 9, 2017

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